India 11th largest gold reserve with current holding pegged at 607 tonnes

As per the latest report by the World Gold Council (WGC), India has the 11th largest gold reserve with the current holding pegged at 607 tonnes. However, India is the world’s largest consumer of gold. The top slot is occupied by the U.S., which boasts of gold reserves of 8,133.5 tonnes, followed by Germany with 3,369.7 tonnes. Italy and France complete the top five lists with reserves of a little over 2,400 tonnes each. India’s overall position in terms of total gold holding would have been tenth had the list included only countries. Whereas, International Monetary Fund (IMF) is included and is third on the list with total gold reserves of 2,814 tonnes. Pakistan, with its gold reserves of 64.6 tonnes, occupies the 45th position. The WGC is market development organization for the gold industry. It is headquartered in London, United Kingdom (UK).